Former Citigroup CEO to Donate Proceeds of $88M Penthouse to Charity

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Stanford Weill, the former chairman and CEO of Citigroup, just listed his lavish Manhattan penthouse for… drumroll please… $88 million. According to the Wall Street Journal, Weill and his wife Joan are hoping to downsize their digs and acknowledged that in this economy it's "a pretty good time" for wealthy Americans "to be quiet."

The Weills bought the full-floor penthouse at 15 Central Park West for $43.7 million in August 2007, which was the highest paid price per square foot at the time. The penthouse boasts ceilings as high as 12.5 feet, 19 glass doors, four bedrooms, 6.5 bathrooms, and a 33-foot-wide living room. Needless to say, the impeccable spread typifies luxury living at its finest.

In a move that should elicit much admiration, Weill announced that he intends to donate to charity the proceeds form the sale of his $88 million penthouse. If the former CEO of Citigroup fetches even close to the $88 million list price, the sale would undoubtedly set new real estate records, and provide the economy with the boost it so well needs. Weill commented, "the proceeds of what we get will go to what we can give away to try to help make the world a better place."